Beyond Air (NASDAQ:XAIR) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Beyond Air (NASDAQ:XAIR) to a sell rating in a research report sent to investors on Saturday.

A number of other equities research analysts also recently weighed in on XAIR. Rodman & Renshaw assumed coverage on shares of Beyond Air in a research report on Tuesday, January 20th. They issued a “buy” rating for the company. D. Boral Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Beyond Air in a research report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Beyond Air Price Performance

Shares of NASDAQ XAIR opened at $0.81 on Friday. The firm has a market cap of $8.52 million, a P/E ratio of -0.15 and a beta of 0.41. The business’s 50 day moving average is $1.14 and its 200-day moving average is $1.62. The company has a current ratio of 5.12, a quick ratio of 4.77 and a debt-to-equity ratio of 2.65. Beyond Air has a 1-year low of $0.67 and a 1-year high of $6.44.

Beyond Air (NASDAQ:XAIR) last released its quarterly earnings results on Friday, February 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.31). Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%. The firm had revenue of $2.19 million during the quarter, compared to the consensus estimate of $2.15 million. Equities research analysts predict that Beyond Air will post -0.79 earnings per share for the current year.

Institutional Trading of Beyond Air

A number of institutional investors have recently modified their holdings of XAIR. Geode Capital Management LLC grew its holdings in shares of Beyond Air by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock worth $144,000 after purchasing an additional 12,598 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Beyond Air in the third quarter valued at about $1,753,000. Osaic Holdings Inc. lifted its position in Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares during the period. Virtu Financial LLC bought a new stake in Beyond Air during the third quarter worth about $48,000. Finally, Alpine Global Management LLC acquired a new stake in Beyond Air during the third quarter worth about $25,000. 31.50% of the stock is currently owned by institutional investors.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.